Khazanah sells RM1.09bln convertible Sukuk

Khazanah Nasional Bhd said it sold US$357.8 million (RM1.09 billion) worth of exchangeable sukuk at negative yield, a first for this type of asset class. It is also the first convertible debt paper to be issued in two years.
The seven-year Islamic paper comes with a year-three put option and zero periodic payment. It was priced to pay a yield of negative 0.25% with a 30% conversion premium – both at the issuer-friendly end of marketed terms………………………………………..Full Article: Source